inherititing 50% of a house. Buy out 1/2 or sell ?

[Chuck L.]

It's a 1200 sq ft house and the houses here in N.W. Wisconsin are going for 75$ / sq ft.   As we have been cleaning it up, people are already circling the place asking if they can buy it before a realtor gets involved,  as they would like to flip it.

I've been thinking for a couple of years about buying out my sisters 1/2 ($40,000?) and making it an airbnb.   I live about 8 miles from the house and have been a homeowner for 15 years, so would say I have intermediate level house maintenance skills.

I would appreciate knowing what questions to be asking.   I think I would be ahead on the 70 arv buy not convinced I could do the 2% rule.  

thank you.